Disposal

Fuller,Smith&Turner PLC 07 July 2003 7 July 2003 FULLER SMITH & TURNER P.L.C. SALE OF PILGRIMS REST HOTEL Fuller, Smith & Turner PLC today announces the sale of The Pilgrims Rest Hotel and Pub in Ashford, Kent for an undisclosed sum to Shepherd Neame PLC. The consideration is being satisfied in cash upon completion and will be used to reinvest in the business. The sale of the hotel fits Fuller's strategy to focus its hotel operations within its current trading area, which will be enhanced by the opening of the 55 bedroom Red Lion Hotel in Hillingdon, West London, in the summer of 2004. The sale will not have a material effect on current year earnings and is at a modest premium to the current net book value of the property. Fuller's wish to thank the management team at the Pilgrims Rest for their professionalism and dedication in creating such a friendly, welcoming atmosphere. The team will now transfer to Shepherd Neame under Transfer of Undertakings (Protection of Employment) ("TUPE") regulations. - Ends - For further information: Fuller's Press Office Tel. 020 8996 2048 Paul Downes/Vanessa Maydon Tel: 020 7606 1244 Merlin Financial This information is provided by RNS The company news service from the London Stock Exchange
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